Jamie Dimon: JPMorgan Among Leading Blockchain Users

JPMorgan Chase is among the largest users of blockchain technology, according to its CEO Jamie Dimon, reports The Block.

“It’s just a database. […] A great way to exchange them and build trust between banks and clients. We’ve been talking about blockchain for 12 years, but little has happened—it’s not like AI,” explained the executive when asked about innovative technologies.

Dimon stated that JPMorgan Chase is unlikely to issue loans backed by cryptocurrencies. However, this does not prevent the institution’s clients from accessing some services related to digital assets.

Dimon’s stance on Bitcoin remains unchanged. During the interview, he referred to it as a collectible toy, akin to a Pet Rock.

In April, the CEO of JPMorgan once again called digital gold a fraud and a public decentralized Ponzi scheme.

In December 2023, at a meeting with US lawmakers, the executive emphasized the need for stringent restrictions on cryptocurrencies, advocating for their “shutdown.”

Earlier, Dimon expressed doubts about Bitcoin’s 21 million coin issuance limit.